Longeveron (NASDAQ:LGVN) Stock Price Up 0.9% – Still a Buy?

Longeveron Inc. (NASDAQ:LGVN)’s stock price was up 0.9% on Thursday . The stock traded as high as $6.80 and last traded at $6.64. Approximately 59,554 shares were traded during trading, a decline of 13% from the average session volume of 68,827 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

Several analysts have recently commented on LGVN shares. Wall Street Zen downgraded shares of Longeveron from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings downgraded shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Longeveron currently has an average rating of “Hold” and a consensus target price of $80.00.

Longeveron Trading Up 0.9%

The stock has a market capitalization of $21.18 million, a PE ratio of -0.67 and a beta of -0.25. The firm has a 50-day moving average price of $6.88 and a 200-day moving average price of $7.85.

Longeveron (NASDAQ:LGVN) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.75) by ($0.15). The company had revenue of $0.29 million for the quarter, compared to the consensus estimate of $0.33 million. Longeveron had a negative net margin of 1,977.59% and a negative return on equity of 223.19%. Sell-side analysts expect that Longeveron Inc. will post -6.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Longeveron

A hedge fund recently bought a new position in Longeveron stock. ADAR1 Capital Management LLC purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned about 0.86% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Company Profile

Longeveron Inc is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.

Longeveron’s pipeline encompasses several ongoing and completed clinical studies.